DOCSLIB.ORG

First Quarter

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
First Quarter First quarter 2021 2 First quarter 2021 About Scatec Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide. As a long- term player, Scatec develops, builds, owns and operates solar, wind and hydro power plants and storage solutions. Scatec has more than 3.5 GW in operation and under construction on four continents and more than 500 employees. The company is targeting 15 GW capacity in operation or under construction by the end of 2025. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com. Asset portfolio 1) Segment overview Capacity Economic Development & Construction Technology MW interest 2) The Development & Construction segment derives its In operation revenues from the sale of development rights and con- Philippines 642 50% struction services delivered to power plant companies Laos 525 20% where Scatec has economic interests. South Africa 448 45% Egypt 380 51% Power Production Uganda 255 28% The power plants produce electricity for sale primarily Malaysia 244 100% under long term power purchase agreements (PPAs), Brazil 162 44% with state owned utilities or corporate off-takers, or Ukraine 133 73% under government-based feed-in tariff schemes. The Honduras 95 51% Jordan 43 62% average remaining PPA duration for power plants in Mozambique 40 53% operation is 18 years. The electricity produced from Vietnam 39 100% the power plants in the Philippines is sold on bilateral Czech Republic 20 100% contracts and the spot market, under a renewable Rwanda 9 54% operating license. Also, ancillary services make up a Total 3,035 48% significant part of the total revenues in the Philippines. Under construction Services Ukraine 203 100% The Services segment comprises Operations & Pakistan 150 75% Maintenance (O&M) and Asset Management services Argentina 117 50% provided to power plants where Scatec has economic Mexico 9 100% Total 479 78% interests. O&M revenues are generated on the basis of fixed service fees with additional profit-sharing arrange- Projects in backlog ments. Asset Management services typically include Tunisia 360 55% financial reporting to sponsors and lenders, regulatory Brazil 101 40% compliance, environmental and social management, as Ukraine 65 65% well as contract management on behalf of the power Bangladesh 62 65% plant companies. Mali 33 64% Lesotho 25 48% Corporate Total 646 55% Corporate consists of activities of corporate services, management and group finance. Grand total 4,160 53% Projects in pipeline 11,098 1) Asset portfolio as per reporting date. 2) Scatec’s share of the total estimated economic return from its subsidiaries. For projects under development the economic interest may be subject to change. Scatec ASA 3 Q1’21 – Strong growth and solid cash flow generation • Acquistion of SN Power completed Proportionate revenues and EBITDA – the hydro assets contributing to strong growth NOK million • 1) Power production of 854 (349) GWh and EBITDA 1,200 of NOK 636 (346) million. 1,000 • Power Production cash flow to equity NOK 681 (107) 800 million including refinancing proceeds 600 • Start construction of 150 MW solar plant in Pakistan 400 • 2025 growth target announced – 15 GW capacity 200 and investments of NOK 100 billion 0 Revee A Key figures NOK million Q1 2021 Q4 2020 Q1 2020 FY 2020 Proportionate Financials 2) Revenues and other income 1,010 497 866 2,844 Power Production 924 402 391 1,708 Services 56 45 52 232 Development & Construction 24 46 414 873 Corporate 6 5 8 33 EBITDA 2) 636 223 346 1,306 Power Production 704 320 331 1,404 Services 17 10 16 82 Development & Construction -60 -38 15 -28 Corporate -25 -69 -16 -153 Operating profit (EBIT) 406 63 206 690 Net interest- bearing debt 2) 13,674 1,851 8,139 1,851 Scatec proportionate share of cash flow to equity 2) 571 -22 107 324 Power Production (GWh) 854 407 349 1,602 Power Production (GWh) 100% 3) 2,147 756 623 2,911 Consolidated Financials Revenues and other income 831 679 625 2,754 EBITDA 2) 631 448 503 2,069 Operating profit (EBIT) 444 244 328 1,292 Profit/(loss) 42 -561 299 -368 Net interest- bearing debt 2) 14,744 5,223 12,038 5,223 Basic earnings per share 0.11 -4.10 1.87 -3.51 1) Amounts from same period last year in brackets 2) See Alternative Performance Measures appendix for definition 3) Production volume on a 100% basis from all entities, including JV companies. 4 First quarter 2021 Group – Proportionate financials Q1 Q4 Q1 FY The Group’s revenues increased compared to the same NOK million 2021 2020 2020 2020 quarter last year, from inclusion of the SN Power assets in January 2021 combined with new solar plants in Revenues and other income 1,010 497 866 2,844 operations, partly offset by lower construction activity. Gross Profit 907 457 497 2,080 Operating expenses -271 -234 -151 -775 The increase in operating expenses and depreciation EBITDA 1) 636 223 346 1,306 compared with same quarter last year is mainly driven EBITDA margin 1) 63% 45% 40% 46% by the new power plants in the portfolio. D&A and impairment -230 -160 -140 -615 EBIT 406 63 206 690 Cash flow to equity1) 571 -22 107 324 With a larger portfolio of power plants in operation, both revenues and EBITDA increased in the Power Production segment, while decreasing in the Development & Proportionate revenues and EBITDA Construction segment due to low construction activity in NOK million the quarter. This segment mix resulted in a higher EBITDA 1,200 80% margin for the Group compared with the previous quarter. 900 60% Cash flow to equity increased compared to the same 600 40% quarter last year, primarily explained by the factors above 300 20% in addition to NOK 397 million from refinancing of assets in 0 0% the Philippines. See page 10 for further comments on cash flow to equity. Revee EBITDA A agin 1) See Alternative Performance Measures appendix for definition. Power Production – Proportionate financials Q1 Q4 Q1 FY The capacity increased by 1,461 MW (including the SN Power NOK million 2021 2020 2020 2020 assets) from year end 2020, and increased production is the main reason for higher revenues and EBITDA. Cash flow to Revenues and other income 924 402 391 1,708 equity also includes NOK 397 million that stems from debt Gross profit 844 402 391 1,708 refinancing of assets in the Philippines. Operating expenses -140 -81 -60 -304 EBITDA 1) 704 320 331 1,404 Power production reached 854 GWh in the first quarter EBITDA margin 1) 76% 80% 85% 82% compared to 349 GWh in the same quarter last year, while D&A and impairment -221 -149 -125 -566 EBIT 483 171 206 838 revenues and EBITDA increased by NOK 532 million and Cash flow to equity1) 681 53 105 427 NOK 373 million respectively. The financial performance of the hydropower plants was Proportionate revenues and EBITDA strong in the quarter with production above median expec- NOK million GWh tiation, mainly due to favorable hydrology and higher power 1,000 1,000 prices in the Philippines. 800 800 600 600 Revenues and EBITDA from solar plants remained stable 400 400 compared to the same quarter last year, somewhat offset 200 200 by increased asset ownership costs. 0 0 See page 15 for a specification of financial performance for Revee A owe ct GWh) each country in the portfolio. 1) See Alternative Performance Measures appendix for definition. Scatec ASA 5 Services – Proportionate financials Q1 Q4 Q1 FY The revenues in the Services segment increased from the NOK million 2021 2020 2020 2020 previous quarter due to the inclusion of revenues related to services rendered to the hydropower plant in Laos. Revenues and other income 56 45 52 232 Operating expenses -39 -35 -36 -150 Operating expenses in the segment mainly constitute fixed EBITDA 1) 17 10 16 82 expenses such as personnel and recurring maintenance EBITDA margin 1) 30% 22% 31% 35% cost reflecting fixed maintenance schedules. As such the D&A and impairment -1 -1 -1 -3 operating expenses are broadly in line with the previous EBIT 16 9 15 79 Cash flow to equity1) 14 8 13 65 quarter. Proportionate revenues and EBITDA NOK million 80 60 40 20 0 Revee A 1) See Alternative Performance Measures appendix for definition. Development & Construction (D&C) – Proportionate financials Q1 Q4 Q1 FY In February 2021, Scatec achieved financial close for the 150 NOK million 2021 2020 2020 2020 MW Sukkur project in Pakistan and development revenues have been recorded in the first quarter. Revenues and other income 24 46 414 873 Gross Profit - 6 46 109 The total construction activity and revenues in the quarter Gross Margin 1) 1% 12% 11% 12% was low compared with the same quarter last year as only Operating expenses -60 -43 -31 -137 minor activities are remaining in Argentina and Ukraine. EBITDA 1) -60 -38 15 -28 These plants are estimated to be completed in the second D&A and impairment -2 -5 -10 -26 EBIT -62 -43 5 -54 quarter. Cash flow to equity1) -51 -27 13 -15 The increase in operating expenses reflects the new scope of pursuing hydropower project development after the Proportionate revenues and EBITDA acquisition of SN Power. Operating expenses is comprised NOK million of approximately NOK 49 million for early stage project 500 development and NOK 11 million related to the construc- 400 tion business. In addition project development spending 300 (including amounts capitalised) reached NOK 60 million in 200 the quarter.
Load more

Recommended publications
  • Renewable Energy Risking Rights & Returns
    ` RENEWABLE ENERGY RISKING RIGHTS & RETURNS: An analysis of solar, bioenergy and geothermal companies’ human rights commitments SEPTEMBER 2018 CONTENTS CONTENTS Executive summary 1 Introduction 4 Analysis 6 1. Leaders and laggards 6 2. Public commitment to human rights 12 3. Commitment to community consultations 12 4. Access to remedy 14 5. Labour rights 16 6. Supply chain monitoring 17 Recommendations 19 Annex 21 Photo credit: Andreas Gücklhorn/Unsplash EXECUTIVE SUMMARY EXECUTIVE SUMMARY Key messages Renewable energy is key for our transition to a low-carbon economy, but companies’ human rights policies and practices are not yet strong enough to ensure this transition is both fast and fair. Evidence shows failure to respect human rights can result in project delays, legal procedures and costs for renewable energy companies, underlying the urgency to strengthen human rights due diligence. We cannot afford to slow the critical transition to renewable energy with these kinds of impediments. As renewable energy investments expand in countries with weak human rights pro- tections, investors must step up their engagement to ensure projects respect human rights. Renewable energy has experienced a fourfold bioenergy and geothermal industries, increase in investment in the past decade. echoing findings from ourprevious analysis of Starting at $88 billion in 2005, new wind and hydropower companies. investments hit $349 billion in 2015.1 This eye-catching rise in investments is a welcome Alongside the moral imperative, companies trend and reflects international commitments can also avoid significant legal risks, project to combatting climate change and providing delays and financial costs by introducing access to energy in the Paris climate rigorous human rights due diligence policies agreement and the Sustainable Development and processes.
    [Show full text]
  • Annual Report
    Annual Report 2018 2 Our vision Improving our future Our mission To deliver competitive and sustainable solar energy globally, to protect our environment and to improve quality of life through innovative integration of reliable technology Our values Predictable Working together Driving results Changemakers Scatec Solar ASA - Annual Report 2018 3 Contents Scatec Solar in brief 4 Value chain 6 Market development 7 CEO letter 8 Our people 10 Sustainability highlights 12 Report from the Board of Directors 15 Executive Management 34 Board of Directors 36 Consolidated financial statements Group 40 Notes to the Consolidated financial statements Group 46 Parent company financial statements 112 Notes to the parent company financial statements 116 Other definitions 137 Responsibility statement 138 Alternative Performance Measures 139 Appendix 142 Auditor’s report 144 4 Scatec Solar in brief Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable source of clean energy worldwide. As a long-term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants, and has solid installation track record of more than 1 GW. The company has a total of 1.7 GW in operation and under construction in Argentina, Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine. With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by
    [Show full text]
  • Scatec Solar ASA Prospectus 12 November 2020
    Scatec Solar ASA – Prospectus Listing of up to 20,652,478 Private Placement Shares issued in connection with a Private Placement _______________________________ The information in this prospectus (the "Prospectus") relates to the listing on Oslo Børs by Scatec Solar ASA, ("Scatec Solar" or the "Company"), a public limited company incorporated under the laws of Norway (together with its consolidated subsidiaries, the "Scatec Solar Group") of 20,652,478 new shares in the Company (the "Private Placement"), each with a nominal value of NOK 0.025 (the "Private Placement Shares"), issued in a private placement directed towards Norwegian and international investors for gross proceeds of approximately NOK 4,750 million, issued at a subscription price of NOK 230 per share (the "Subscription Price"). 13,768,280 of the Private Placement Shares were issued on 21 October according to a board authorisation (the "New Shares"), and the remaining 6,884,198 will be issued according to a resolution by the General Meeting on 12 November 2020 (the "Borrowed Shares"). The Company's existing shares are listed on the Oslo Børs under the ticker code "SSO". Except where the context requires otherwise, references in this Prospectus to "Shares" will be deemed to include the existing Shares and the Private Placement Shares. All of the existing shares in the Company are, and the Private Placement Shares will be, registered in the VPS in book-entry form. All of the Shares rank pari passu with one another and each carry one vote. Investing in the Company's Shares involves a high degree of risk. See Section 2 "Risk factors" beginning on page 8 and Section 4 "General information".
    [Show full text]
  • Notes to the Parent Company Financial Statements
    Notes to the parent company financial statements Scatec Solar ASA - Annual Report 2019 111 Notes to the parent company financial statements Note 1 General information Scatec Solar ASA is incorporated and domiciled in Norway. solar photovoltaic (PV) power plants including project The address of its registered office is Askekroken 11, development, financing, construction, ownership, and NO-0277 OSLO, Norway. Scatec Solar was established on operation and maintenance. 2 February 2007. The Company is listed on the Oslo Stock Exchange. Scatec Solar ASA (“the Company”), its subsidiaries and investments in associated companies and joint ventures The consolidated financial statements for the full year 2019 (“the Group” or “Scatec Solar”) is a leading independent solar were authorised for issue in accordance with a resolution by power producer. The Company is pursuing an integrated the Board of Directors on 26 March 2020. business model across the complete lifecycle of utility-scale Note 2 Accounting principles Statement of compliance The financial statements of Scatec Solar ASA are prepared applicable on the transaction date. Non-monetary items in accordance with the Norwegian Accounting Act of 1998 that are measured at their fair value expressed in a foreign and Norwegian Generally Accepted Accounting Principles currency are translated using the exchange rate applicable on (NGAAP). the balance sheet date. Basis for preparation Revenues and cost of sales The financial statements have been prepared on a historical Scatec Solar ASA develops project rights that are the basis for cost basis. construction of solar PV plants. Revenues are partly derived from the sale of these project rights. These transactions Accounting estimates and judgements are primarily made with project companies which are under In preparing the financial statements, assumptions and the control of the Group.
    [Show full text]
  • Arctic Norwegian Equities Monthly Report April 2021
    Arctic Norwegian Equities Monthly Report April 2021 FUND COMMENTS Arctic Norwegian Equities gave 0.4% return in April -(I class) versus 1.9% for the OSEFX benchmark index. Year-to- date the fund is up 6.4% compared to 10.3% for the OSEFX index. Since inception the fund has returned 194% ver- sus 164% for the benchmark index. April was yet another good month for the equity markets, with gains across sec- tors. Commodity prices continued to rise in April. In April positive attribution for the Fund versus the benchmark index came from overweights in Atea and Rana Gruber, and underweight Scatec Solar. Atea is a large overweight for Arctic Norwegian Equities. The company deliv- ered quarterly results showing 11 percent topline growth year-over-year, and rising profits in all its regions. Den- mark contributed most significantly to improving results. Atea’s operating margin rose to 1.8 percent from 0.4 per- cent last year. The fund has a position in Rana Gruber. Iron ore prices rose 185.5 dollar per tonne in April. This com- pares to an approximate 70-dollar break-even level for Rana’s net result and cash flow. The fund is underweight in Scatec Solar. Year-to-date the stock has declined with other shares in the renewable space. In addition, the Scatec share got a lower weight in an important European renewables index. In April Scatec announced results for the first quarter which were in-line with market expectations. The company however announced a breach of financial cove- nants for non-recourse debt in Ukraine.
    [Show full text]
  • Annual Report 2020 3
    Annual Report 2020 2 Scatec ASA - Annual Report 2020 3 Contents Scatec in brief 5 Market outlook 6 Acquisition of leading hydropower player SN Power 8 CEO letter 10 Our people 12 Sustainability highlights 14 Report from the Board of Directors 15 Executive Management 34 Board of Directors 36 Consolidated financial statements Group 38 Notes to the Consolidated financial statements Group 46 Parent company financial statements 107 Notes to the parent company financial statements 113 Responsibility statement 133 Alternative Performance Measures 134 Other definitions 138 Appendix 140 Auditor’s report 142 About Scatec Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide. As a long- term player, Scatec develops, builds, owns and operates solar, wind and hydro power plants and storage solutions. In the first half of 2021, Scatec will have a total of 3.3 GW in operation on four continents and more than 500 employees. The company is targeting 15 GW capacity in operation or under construction by the end of 2025. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. 4 Our vision Improving our future Our mission To deliver competitive and sustainable renewable energy globally, to protect our environment and to improve quality of life through innovative integration of reliable technology Our values Predictable Working together Driving results Changemakers Scatec ASA - Annual Report 2020 5 Key facts Employees In operation FY 2020 Project pipeline at year-end
    [Show full text]
  • Third Quarter
    Third quarter 2019 About Scatec Solar Scatec Solar is a leading integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns and operates solar power plants and has an installation track record of more than 1.3 GW. The company has a total of 1.9 GW in operation and under construction on four continents. With an established global presence and a significant project pipeline, the company is targeting a capacity of 4.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SSO’. Asset portfolio 1) CAPACITY ECONOMIC MW INTEREST 2) In operation Egypt 390 51% South Africa 190 45% Brazil 162 44% HQ Malaysia 197 100% Honduras 95 51% Ukraine Ukraine 47 51% Czech Republic Jordan 43 62% Mozambique 40 52% Jordan Czech Republic 20 100% Rwanda 9 54% Egypt Bangladesh Total 1,193 59% Mali Honduras Under construction Vietnam Ukraine 289 96% Malaysia South Africa 258 46% Argentina 117 50% Rwanda Brazil Malaysia 47 100% Total 711 70% Mozambique Projects in backlog South Africa Vietnam 188 65% Argentina Ukraine 65 65% Bangladesh 62 65% Mali 33 51% Honduras 18 70% Total 366 64% Grand total 2,270 63% Projects in pipeline 5,245 Solar power plants in operation: 1,193 MW Plants under construction: 711 MW Projects in backlog: 366 MW Segment overview Power Production The plants produce electricity for sale under long term power purchase agreements (PPAs), with state owned utilities or corporate off-takers, or under government-based feed-in tariff schemes.
    [Show full text]
  • Investor Presentation
    Investor presentation February 2020 Disclaimer The following presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated (’relevant persons’). Any person who is not a relevant person should not rely, act or make assessment on the basis of this presentation or anything included therein. The following presentation may include information related to investments made and key commercial terms thereof, including future returns. Such information cannot be relied upon as a guide to the future performance of such investments. The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law, and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about, and observe, such restrictions. This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in Scatec Solar ASA or any company within the Scatec Solar Group. This presentation contains statements regarding the future in connection with the Scatec Solar Group’s growth initiatives, profit figures, outlook, strategies and objectives as well as forward looking statements and any such information or forward- looking statements regarding the future and/or the Scatec Solar Group’s expectations are subject to inherent risks and uncertainties, and many factors can lead to actual profits and developments deviating substantially from what has been expressed or implied in such statements. 2 Contents • Introduction • The solar market • Our backlog & pipeline • Our business model • Financials • Outlook and guidance The 40 MW Mocuba solar plant, Mozambique.
    [Show full text]
  • Annual Report
    Annual Report 2020 2 Scatec ASA - Annual Report 2020 3 Contents Scatec in brief 5 Market outlook 6 Acquisition of leading hydropower player SN Power 8 CEO letter 10 Our people 12 Sustainability highlights 14 Report from the Board of Directors 15 Executive Management 34 Board of Directors 36 Consolidated financial statements Group 38 Notes to the Consolidated financial statements Group 46 Parent company financial statements 107 Notes to the parent company financial statements 113 Responsibility statement 133 Alternative Performance Measures 134 Other definitions 138 Appendix 140 Auditor’s report 142 About Scatec Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide. As a long- term player, Scatec develops, builds, owns and operates solar, wind and hydro power plants and storage solutions. In the first half of 2021, Scatec will have a total of 3.3 GW in operation on four continents and more than 500 employees. The company is targeting 15 GW capacity in operation or under construction by the end of 2025. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. 4 Our vision Improving our future Our mission To deliver competitive and sustainable renewable energy globally, to protect our environment and to improve quality of life through innovative integration of reliable technology Our values Predictable Working together Driving results Changemakers Scatec ASA - Annual Report 2020 5 Key facts Employees In operation FY 2020 Project pipeline at year-end
    [Show full text]
  • The Norwegian Government's Strategy for Green Competitiveness
    Norwegian Government Strategy Better growth, lower emissions – the Norwegian Government’s strategy for green competitiveness Contents Foreword . 3 Cooperation and dialogue between authorities, researchers and the business sector . 30 . Introduction . 5. Education and lifelong learning . 31. What is green competitiveness? . 9 Infrastructure for green solutions . .33 . An integrated policy for green competitiveness . .11 . New technology in the electricity supply system . .33 . Principles of green competitiveness . .15 . Developing an emission-free transport system . 33. Markets for green solutions . 17 Electrification of the transport sector . 35 Emissions trading and taxation . 17. Digitalisation and autonomous technology . 36 A range of instruments to promote green markets . 18. Carbon capture and storage . 37 Green and innovative public procurement . 21 Better management of climate risk New legislation and better advice and guidance for and funding of green solutions . 41 public purchasers . 21 . Climate risk . 41 Action to promote green and innovative Funding of green solutions . .42 . procurement . 22 A circular economy . .45 . Research, innovation and technology development . 25 A circular economy will alter the competition Targeted initiatives and special focus on R&D framework . 46 on climate and environment . 25 More robust markets for secondary raw materials . 47 Enova . 26 . Sustainable use and export of sustainable biological Innovation Norway . 26. resources . 47. The Research Council of Norway . .27 . Increasing exports of
    [Show full text]
  • Clean Energy Investing: Globla Comparison of Investment Returns
    Clean Energy Investing: Global Comparison of Investment Returns March 2021 A Joint Report by the International Energy Agency and the Centre for Climate Finance & Investment Table of Contents 03 Executive Summary 05 Introduction 08 Analytical Methods 11 Key Investment Characteristics 14 Results 14 Global Markets 18 Advanced Economies 19 Emerging Market and Developing Economies 20 China 21 Transition Companies 22 The Covid Market Shock 24 Irrational Exuberance? 26 Conclusions 29 Acknowledgments 30 Annex A – Definition of Key Terms 32 Annex B – IEA Scenarios 33 Annex C – Fama-French Five-Factor Model 34 Annex D – Fossil Fuel Portfolio 48 Annex E – Renewable Power Portfolio 2 Executive Summary To shed light on the long-term prospects for clean energy, we investigate the historical financial performance of energy companies around the world in search of broad structural trends. This is the second in a series of joint reports by the International Energy Agency and Imperial College Business School examining the risk and return proposition in energy transitions. In this paper, we extend our coverage of publicly-traded renewable power and fossil fuel companies to the following: 1) global markets, 2) advanced economies, 3) emerging market and developing economies, and 4) China. We calculate the total return and annualized volatility of these portfolios over 5 and 10-year periods. Table 1 shows the 5 and 10-year results, up to December 31, 2020. Table 1 – Summary of Key Findings Global Markets Portfolios Advanced Economies Portfolios Fossil Fuel Renewable
    [Show full text]
  • Second Quarter 2020
    Second quarter 2020 About Scatec Solar Scatec Solar is a leading integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns and operates solar power plants and has an installation track record of more than 1.6 GW. The Company has a total of 1.9 GW in operation and under construction on four continents. With an established global presence and a significant project pipeline, the company is targeting a capacity of 4.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SSO’. Asset portfolio 1) Capacity Economic MW interest 2) In operation South Africa 448 46% Egypt 390 51% HQ Malaysia 197 100% Brazil 162 44% Ukraine Ukraine 101 77% Czech Republic Honduras 95 51% Jordan 43 62% Jordan Mozambique 40 53% Tunisia Czech Republic 20 100% Bangladesh Egypt Rwanda 9 54% Mali Total 1,505 58% Honduras Under construction Malaysia Ukraine 235 95% Argentina 117 50% Rwanda Brazil Malaysia 47 100% Total 399 82% Mozambique Projects in backlog South Africa Tunisia 360 65% Argentina Ukraine 65 65% Bangladesh 62 65% Mali 33 64% Total 520 65% Grand total 2,424 63% Projects in pipeline 5,620 Solar power plants in operation: 1,505 MW Plants under construction: 399 MW Projects in backlog: 520 MW Segment overview Development & Construction The Development & Construction segment derives its revenues from the sale of development rights and construction services delivered to power plant companies where Scatec Solar has economic interests.
    [Show full text]